Find the duration of a bond with a settlement date of May 27, 2020, and maturity date November 15, 2031. The coupon rate of the bond is 6.0%, and the bond pays coupons semiannually. The bond is selling at a bond-equivalent yield to maturity of 7.0%. Use Spreadsheet 16.2. (Do not round intermediate calculations. Round your answers to 4 decimal places.)

Macaulay duration ___

modified duration ___

F CIAMI D PV of CF (Discount rate - Cash Flow 5% per period) 40 -D4/(1+$B$ 16/84 40 -D5/1+$B$16BS 40 -D6/1$B$16786 1040 -D7/(1+$B$16/*B7 -SUME4 E7 Weight -E4/E$8 -E5/E$8 -E6/E$8 -E7/E$8 -SUMF4F7) G Column times Column -F4C4 -F5C5 -F6C6 -F7C7 - SUMG4:47 A B 1 Time until 2 Payment 3 Period (Years) 4 A8% coupon bond 1 0.5 5 2 1 6 3 1.5 7 4 2 8 Sum 9 10 B. Zero-coupon 1 0.5 11 2 1 12 3 1.5 13 4 Sum 15 16 Semiannual int rate: 0.05 Spreadsheet 16.2 Spreadshoot formulas for calculating duration 0 0 0 1000 -D10/1+$8$ 169810-10VES 14 -F10C 10 -D11/1+$8$16811E11/E$14 -F11'C11 -D12 1+$B$16812 -E12/E$14 -F12C12 D13/(1+$B$167813-E13/E$14 -F13'C13 -SUME 10:13 -SUMF10F13- SUMG10613